Fed cites surging AI investments, not tariffs, as driver of goods inflation

Minutes from the US Federal Reserve's September meeting show officials increasingly pointing to surging AI-related investments, rather than tariffs, as a factor behind rising goods inflation, the Washington Post reports.

• Fed officials cited "surging AI-related investments" as a factor in inflation pressures at their September meeting
• Tariffs are no longer named the main driver of goods price growth
• Source: Fed meeting minutes reported by the Washington Post